Short Interest in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Drops By 33.6%

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) saw a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 76,741 shares, a decrease of 33.6% from the May 14th total of 115,543 shares. Based on an average daily trading volume, of 95,248 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.2% of the company’s shares are sold short.

BNY Mellon Strategic Municipal Bond Fund Trading Down 0.3%

DSM traded down $0.02 during trading on Wednesday, hitting $6.12. 58,631 shares of the stock traded hands, compared to its average volume of 94,250. BNY Mellon Strategic Municipal Bond Fund has a 12-month low of $5.45 and a 12-month high of $6.30. The firm has a 50-day moving average of $6.08 and a 200 day moving average of $6.08.

BNY Mellon Strategic Municipal Bond Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, June 11th will be issued a dividend of $0.03 per share. The ex-dividend date is Thursday, June 11th. This represents a c) dividend on an annualized basis and a yield of 5.9%. This is a boost from BNY Mellon Strategic Municipal Bond Fund’s previous monthly dividend of $0.03.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Institutional investors and hedge funds have recently bought and sold shares of the business. Cerity Partners LLC bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the second quarter valued at approximately $56,000. Nomura Holdings Inc. purchased a new position in BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter valued at $74,000. BOKF NA purchased a new position in BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at $79,000. Janney Montgomery Scott LLC raised its holdings in BNY Mellon Strategic Municipal Bond Fund by 22.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 15,331 shares of the investment management company’s stock worth $95,000 after purchasing an additional 2,765 shares in the last quarter. Finally, Novak & Powell Financial Services Inc. purchased a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 4th quarter worth about $111,000.

About BNY Mellon Strategic Municipal Bond Fund

BNY Mellon Strategic Municipal Bond Fund Inc (NYSE: DSM) is a closed-end, diversified management investment company sponsored by The Bank of New York Mellon Corporation. Launched in 2007, DSM is listed on the New York Stock Exchange and offers investors access to a professionally managed portfolio of municipal debt securities. As a publicly traded fund, DSM combines the liquidity of the secondary market with the long-term investment horizon of a mutual fund structure.

The fund’s primary objective is to provide current income exempt from federal income tax.